Maximizing Rental Income with PadSplit's Rent-by-Room Model for Single-Family Homes
December 12th, 2024 1:00 PM CT
Ellis Tran
Ramez Fakhoury
Upcoming Live
Founded
In 2008
Members
Administered
1 Billion
in Assets
Full-Time
Dedicated Staff
White-Glove
Service
Here’s What You’ll Learn
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About PadSplit
PadSplit is the nation’s largest coliving marketplace that provides housing specifically designed for the workforce. As a public benefit corporation, PadSplit is intentional about doing well and doing good with a focus on increasing the housing supply and decreasing barriers to access. Their award-winning model allows individuals to find a flexible, long-term rental option that includes furniture, utilities, and access to public transit, all without a minimum credit score. PadSplit’s technology platform enables personalized rent payments that facilitate easier budgeting and allow residents to improve their financial health. A fully remote company, PadSplit offers more than 15,000 shared housing rooms nationwide.
Apply to become a resident or a property owner by scheduling a call with Ellis: Click Here
Meet The Experts
PadSplit
Ellis Tran
Originally from the Bay Area, Ellis moved to Arizona in 2020 with his wife where they now reside with their two year old daughter and two dogs. As Arizona's sole Senior Account Executive, he joined the company with extensive coliving experience from three CA-based startups, Common, Starcity, and OpenDoor Coliving.
Since market launch in January 2023, 115 PadSplits have been onboarded in Arizona, totaling 800 bedrooms with a 91% occupancy. The explosive market growth has set company records and Ellis stays committed in helping his early adopter investors scale their PadSplit portfolios to be able to provide affordable housing to those that need it.
The majority of Mr. Larsen’s career was with Wells Fargo Bank Corp and Nicholas Financial Inc. where he led the full cycle process of growing AUM including underwriting, acquiring, servicing, auditing, and divestiture of debt portfolios. Throughout the past 9 years, Mr. Larsen has spent time growing Credo Capital Management into a respected asset manager with an exemplary track record of 250 major debt transactions. Mr. Larsen holds a B.S. in both Finance and Economics from Miami University.
Vice President of IRA Club
Ramez Fakhoury
As an entrepreneur with a rich background spanning over two decades, Ramez is deeply commited to education and inspiring individuals, empowering them to venture beyond conventional paths and diversify their investments through the power of self-direction.
FDIC Insured
IRA/401(k) cash is FDIC insured
Flat Fee Structure
Flat fees and straightforward pricing
Free IRA Reports
Free annual IRA tax reporting
(RMDs, 1099-R, 5498, 5500 forms)
Investor's Row
Explore alternative investment opportunities
Concierge Service
Friendly, white-glove service
Educational Resources
Up-to-date educational resources on IRS regulations
Frequently Asked Questions
Here are the most common Self-Directed IRA questions. Have others?
Sign up for our webinar and ask us in person!
IRA Club provides a way for people like you to fully utilize the benefits of Self-Directed IRAs, leading to a wider range of investments and potential for better returns.
It’s an IRA that gives you more choices for where you want to invest your money, not just in regular stocks or bonds.
Self-Directed IRAs were passed by Congress back in 1974. Alternative IRA investments have always been allowed by the IRS, however, many IRA companies have placed artificial restrictions on IRA owners over the years. Self-Directed IRAs are not well known because most banks and brokerage firms prefer traditional investments.
It’s easy to make investments with a Self-Directed IRA. Once you find your investment and provide money to the seller, you will receive proof that your Self-Directed IRA is the new owner. It can be in the form of a Bill of Sale, title, deed, or simply a statement identifying your Self-Directed IRA as the asset’s new owner. The main difference is that the name on the title (or other documents) is the name of your Self-Directed IRA and not your name as an individual.
Yes. The most common way for an IRA to buy an asset is to pay cash. However, there may be times when an alternative method of payment is practical.
Maximum Contributions for 2023:
Under age 50 – $7,000.
Age 50 and over – $8,000
